ľ¹ÏÓ°Ôº Group¡¯s Roadmap for Climate Action in the Middle East and North Africa (MENA), which runs from 2021-2025, aims to drive climate action and a green recovery in the region. MENA is one of the most vulnerable regions to climate change, enduring extremely high temperatures, desertification, water scarcity, degraded marine and coastal ecosystems and high levels of air pollution. The roadmap outlines four key transformation areas to build low-carbon, resilient societies:
- Food systems, water security and resilient natural capital: A climate-smart approach to agriculture and natural resource management in MENA is instrumental to achieve food security and preserve biodiversity, while ensuring peace and stability.?
- Energy transition and low-carbon mobility: Decarbonizing energy and transport sectors through renewable energy sources and clean mobility solutions can create jobs and drive economic growth while preventing health and environmental risks.
- Climate-smart cities and resilient coastal economies: Climate-informed urban planning, strengthening municipal plans to ensure the continuity of public services, and integrated coastal management will help improve livability of cities and mitigate risks in the face of increased climate hazards.
- Sustainable finance for climate action?: Unlocking private capital, supporting national budgets and expenditures and strengthening financial institutions for green investments.
The Roadmap builds on the World Bank Group¡¯s Climate Change Action Plan and commitment to boost climate action through:
- Increasing World Bank Group investments ¨C $10 billion of World Bank and IFC funding will be used for climate-smart projects and policy reforms, leveraging an additional $2 billion in private sector financing.
- Balancing adaptation and mitigation ¨C investing 50% of climate finance on interventions that help build resilience, guided by regional and country-specific demand.
- Integrating climate risk management ¨C strategies and interventions will be informed by the World Bank¡¯s , a core diagnostic tool that will help identify risk and opportunities of low carbon growth
- Aligning financial flows with the Paris Agreement by FY23 ¨C investments (particularly infrastructure and physical assets) will be aligned with country agreements and to ensure there are no stranded assets
The MENA roadmap unites climate action and development, strengthens institutions, overcomes barriers to private sector engagement, fosters regional integration and builds resilient and more inclusive societies.
